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The circulating supply of RLUSD on the XRP Ledger has surpassed $1 billion for the first time, marking a historic milestone for the Ripple stablecoin.
According to the Ripple Stablecoin Tracker website, RLUSD circulating supply on the XRP Ledger is now $1,024,222,594 ($1.024 billion).
This comes as Ripple increases RLUSD liquidity across its supported blockchain networks, including the XRP Ledger. Specifically, the last 48 hours have seen an uptick in RLUSD activity on the XRP Ledger, with new minting taking place.
On August 27, $26.2 million RLUSD was minted on the XRP Ledger with $6.9 million RLUSD burned; on August 28 so far, $36.9 million RLUSD has been minted with $7.5 million RLUSD burned.
The Ripple Stablecoin Tracker X account reported three of these transactions, which occurred over the last 24 hours. Three separate minting transactions on the XRP Ledger of 19,900,000 RLUSD, 10,000,000 RLUSD, and 10,000,000 RLUSD were reported.
Ethereum has also received RLUSD transactions in the last 24 hours, with $53.3 million minted so far on August 28 and $5 million burned.
Given the increased activity typically seen at month's close, RLUSD total circulating supply remains above $2 billion, currently at $2.27 billion according to the Ripple stablecoin tracker page. The circulating supply of RLUSD on the Ethereum blockchain is currently $1.24 billion.
XRP Ledger growth continues
This week, the XRP Ledger surpassed five billion transactions settled in its 14-year span. In a separate development, Ripple has begun an intensive, AI-only security review of Lending Protocol V1.1 for the XRP Ledger through Sherlock Audit Engine.
In a major milestone, the SEC has declared XRP treasury company Evernorth's registration statement effective. According to Hussein Zangana (Vet), this could be where XRP Ledger DeFi begins to leverage liquidity, given Evernorth's initial reserve of 473 million XRP.
Mastercard has joined as a sponsor of the XRP Ledger Hackathon that the XRP Ledger Foundation is co-hosting before the Ripple Swell Event.
U.Today Editorial Team
Dan Burgin
